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In Europe people are experiencing negative interest rates. This means banks charge their customers for protecting the patrons money. If 10,000 euros (European Union currency is deposited in a savings account that is subject to a negative interest rate of 1% per year, how much money will the customer have in 5 years? The customer will have euros in 5 years. (Round to the nearest euro)

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Answer #1

the customer will have in 5 years

=PV*(1+r)^n

=10000*(1-1%)^5

=9510

the above is answer..

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